Deep Dive
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Investors pressure FIS and Fiserv to split businesses to boost profits
Three years ago, FIS and Fiserv sought economies of scale through multi-billion-dollar acquisitions, but now, amid intensifying competition and economic headwinds, both companies face profit pressure, and investors are demanding business splits. FIS has already been pressured by activist investors, while Fiserv has responded through cost cuts and divestitures.
FedNow catches up with real-time payment pioneers: full rollout still years away
The Federal Reserve's FedNow real-time payment system is set to launch next year, but industry experts point out that businesses and consumers may still have to wait years before relying on widespread instant payments. The U.S. lags behind countries like China in real-time payments, and FedNow aims to expand services by connecting thousands of smaller banks, but faces challenges including pricing, interoperability, fraud protection, and resistance from large banks.
BNPL industry losses widen: soaring costs erode profits
As the buy now, pay later (BNPL) industry expands rapidly, major players such as Klarna, Affirm, Afterpay, and Zip have yet to achieve profitability, with costs growing far faster than revenue, while regulatory pressure and intensifying competition further squeeze profit margins.
U.S. banks prepare for tougher sanctions against Russia
Global financial institutions are preparing for the economic impact of sanctions imposed by Western countries on Russia. Banks play a key role in monitoring and controlling funds flowing into Russia through bank transfers, but they also expose themselves to consequences that ripple through the world economy.
US 'Payment Choice Act' Gains Bipartisan Support: Battle Over Cash Payment Rights Heats Up
The Payment Choice Act, pushed by US Congressman Donald Payne Jr., aims to protect consumers' right to pay with cash and has gained bipartisan support. The bill comes against the backdrop of declining cash usage, the rapid proliferation of digital payment tools, and the Federal Reserve's exploration of central bank digital currencies (CBDCs). This article reviews the current state of cash usage in the US, the impact of the COVID-19 pandemic on payment habits, legislative developments in cities banning cashless stores, and global CBDC research progress, while analyzing the potential effects of payment system changes on banks, fintech companies, and consumers.
Cryptocurrency quietly enters the checkout counter: payment giants expand digital asset consumption scenarios
Over the past year, an increasing number of mainstream payment service providers and card networks have been lowering the barriers for retailers to accept cryptocurrency, with companies incorporating crypto assets into payment options and betting on growth in consumer usage. However, whether consumers will truly use cryptocurrency in everyday shopping remains uncertain, with challenges including volatility, tax burdens, and usage habits.
Salary Advance Service Draws Regulatory Attention
The rapid expansion of the on-demand pay industry has drawn regulatory attention. Ninety-two consumer protection organizations sent a letter to the CFPB, calling for a reassessment of policies from the Trump administration. The industry is divided over regulatory attitudes, with the core dispute centering on whether salary advances constitute credit.